In the eighties, trapped by debt, third world governments were forced to reimburse their loans with interest rates five to six times higher than those practised on financial markets. These countries then had forced upon them structural adjustment plans by the IMF, which led to the privatisation of public services and the massive export of resources, with disastrous consequences for their development. In their wake, came corruption and subtle networking which left a long-lasting legacy.
Why today do countries such as the Democratic Republic of Congo, the Republic of Congo and Mali so rich in natural resources remain the poorest on the planet? Why is an important share of their budget still used to service debt?
Based on clear state of affairs, and thanks to the analysis of renowned experts, politicians, heads of major international institutions, as well as militants, the men and women on the ground, « The wages of debt » explores the reasons for the deciphers the workings at play.